Mobikwik 'Supercash' increases consumer retention

New Delhi: MobiKwik on Wednesday announced the launch of a loyalty initiative known as 'Supercash', which aims to promote digital payments.

Supercash is the first ever loyalty initiative launched by a mobile wallet in India. Under this initiative, the user saves money every time he transacts on MobiKwik. They can earn reward points at all MobiKwik merchants, including their local mom and pop stores.

The initiative ensures that MobiKwik has less cash burn compared to competition while giving consumers a prolonged advantage for future buying. Since launch of Supercash, MobiKwik has witnessed a 28 percent growth in transactions per user and a 32 percent improvement in customer retention.

At the same time number of transactions per user has also grown by 17 percent in the same period. Supercash initiative will connect with the arbitrage generation as millennial like to save money wherever possible.

Therefore Supercash promises benefits in each and every transaction keeping in mind the consumer spending prospective.

"Nearly half of consumers will spend more with a brand which offers loyalty bonuses. Also our aim is to go for zero or near zero burn rate at the earliest possible time, a situation that would be of comfort for all its stake holders and investors," said co-founder MobiKwik, Upasana Taku.